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Oil And Gas Leases

All articles tagged with #oil and gas leases

Biden Administration to Cancel Controversial Alaska Wildlife Drilling Leases
energy-and-environment2 years ago

Biden Administration to Cancel Controversial Alaska Wildlife Drilling Leases

The US Interior Department is set to announce the cancellation of oil and gas leases in Alaska's Arctic National Wildlife Refuge (ANWR) that were issued to the Alaska Industrial Development and Export Authority (AIDEA) in the final days of the Trump administration. President Biden had pledged to protect the habitat for polar bears and caribou. This move is part of Biden's broader agenda to combat climate change and rein in oil and gas activities on public lands. The ANWR lease sale in 2021 generated minimal interest from the industry, and the leases were later suspended pending an environmental review. Environmental groups have praised the cancellation of the unlawfully issued leases, while Alaskan officials and the oil and gas industry have expressed frustration.

Biden administration auctions off Gulf of Mexico oil and gas leases.
energy2 years ago

Biden administration auctions off Gulf of Mexico oil and gas leases.

The Biden administration sold access to 1.6 million acres of waters in the Gulf of Mexico for oil and gas drilling, generating $263.8 million in high bids for 313 blocks of waters. The sale contradicts the administration's pledges to combat climate change and has drawn criticism from environmental groups. However, the administration says it was compelled to open the huge swath of Gulf waters to drilling because of stipulations in the Inflation Reduction Act of 2022. The American Petroleum Institute cheered the sale, calling it "a belated but positive step toward a more energy-secure future."